Company Number: 05407952 THE NATIONAL MUSEUM OF COMPUTING COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 31 MARCH 2023 Charlly Number. 01109874
THE NATIONAL MUSEUM OF COMPUTING FINANCIAL STATEMENTS Contents Poge Legol ond administrotive delods Trvstees, Annual Report 2106 Independent examiners report to the members Consolidoted statement ol financial oclivities Consolidoted svmmory income ond expendilure account Consolidoled ond charity bolonce sheet Notes to Ihe Consolidated financiol statements
THE NATIONAL MUSEUM OF COMPUTING LEGAL AND ADMINISTRATIVE DETAILS YEAR ENDED 31 MARCH 2023 Re9lstered charSty nome e National Museum ol Compvting Charfty number 1109874 Company reglstrallon number Prtnclpal offlce 05407952 Block H Ble1chY Po Sherwood Drive Millon Keynes K3 6EB Reglstered office Bbck H BletchÈy Pork Sherwood Drive Mihon Keynes MK3 6E8 Trusl••s Dr A J Herbert Ichaimonl Mr K R Mulrel Prol A J CkTk Mrs R H A 8urnett MrSKoy Ms S-J Lennord Mrs R Hol Secrelory Mr5 R H A Bvmelt Museum director Ms Jocqui GaThod Glbert Hothum FCA. FCCA, DChA l Upper Btidge Street Wye Kent TN25 SAF Indèpendenl exominer
THE NATIONAL MUSEUM OF COMPUTING TRUSTEES. ANNUAL REPORT YEAR ENDED 31 MARCH 2023 The Iruslees. who are olso directors for the purposes ol company I<. present IheÉr pOrt ond the consolidoted Unaudited financial stotemenls of the group lor the yeor ended 31 March 2023. LEGAL AND ADMINISTRATIVE DETAILS Legal ond odmini5trotive deloils ol Inembers of the boord ond professionol odvi5er5 LTe4uOn page l ol the finonciol stotemenls. THE TRUSTEES The trustees who served the compony dvring the period were 05 follows= Dr A J Herbert Ichoirmanl Mr K R Murrell Prol A J Clork MrSKay s S-J Lennard loppointed 12 Jonvory 20231 Mrs R Halls loppointed 4 September 20231 Mrs R H A Bumelt Mr J Moyo Irelired 31 hAarch 20231 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Nationol Museum ol Computing w05 incorporoted on 30 Morch 25 ond registered os a Chority on 6 June 2005. Recrullment and oppolntm•nt of Iruslees The chorily Iruslee5 sholl con%sl of ol leost three and nol more thon tWee individuals and one voluntary charily Twstee. In exercising their powers lo nominote. oppoint. elect, re-elect. opprove. ond dismiss trustee5, the trustees sholl hove regord to the skills. knowledge and experience needed for the effective admini5trotion of the charity. Charity InJslees are appointed for o temi of three years which may be renewed. The voluntary chijrity Trustee is oppointed for o temi ol one yeor. which moy be renewed. The board Mr Sleven Koy's oppoinlment os o volunteer chority Trustee was renewed in Jonuary 2023. MS 5aiah-Jill Lennard w05 appoinled as o Trustee on 12 Jonuory 2023. Mrs Rebecco Holls wos oppointed os a Trustee on 4 September 2023. James Moyo retired os u Trustee on 31 hAarch 2023. Rlsk manogemenl The Iruslees octivety rewew the major risks which Ihe chority faces on a regular bosis and have internal control policies ond procedures in place to provide reasonoble assuronce agoin5t moterial mi5slolement or loss.
THE NATIONAL MUSEUM OF COMPUTING TRUSTEES. ANNUAL REPORT YEAR ENDED 31 MARCH 2023 OBJECTIVES, ACTIVITIES. ACHIEVEMENTS AND PERFORMANCE The Musevm The museum continues wlh ils sloted objectNe to estobW5h ond maintoin o museum in Englond ond Woles lor compuling and its history lor the benefit of Ihe public.. thereby to collect. hokj. preserve. mointoin, orronge, restore. conserve. interpfet. piotect. k¥esent ond devekjp artelacls and other moteriol reloting to computing.. lo promote Ihe Study and waclice of computing ond it5 history, and lo advance knowledge and educolion ol computing for the benefit of the publc.. to develop and susloin octivities to 5timulote interest in computing and its history- such other choritable purposes beneficiol to the public consistent wlh the objective a5 the Trvstees shall detefmine. 'Computing' includes oll matters concemed with the history and lurlheronce ol computer science ond techndogy and Ihe design and development ol computing Systems ond applicolion5,' and embroces ony l¢ym ol computing system. This wos the first year lollowng the Covid-19 pondemic thot we were ae to open oll yeur round ond we were pleased to see o relurn to similor visilor numbers to those we welcomed pn.or to the pandemic. Following on from the rKevious year we continved to fjmit public opening to three lo four days o week (weekends and two weekdays) lo keep the museum busy ond t1rebY provide o more IVlIrIng experience lorourvolunteer stewards and for the ¥illS on those doys. The mvseum remained open on the remaining weekdays to support leaming visils and lor private cory)orote tS and speciol events. With Schools now opeTOting os normal we hod o mvch increased demond for leaming doy5. ond wth mony orgonllalions 51111 enabling staff lo work remolety. we sow 0 5vnifan1 increose in bookirKJs for cortxyate events. We continued to svpport vwluol wesence onwne including 3D v¥tual guided lours ond onwne presentations. ond sociol medio. with greot support from volunteers. This hos ollowed us lo develop a more geogrophicolty dispersecl oudience. including virtuol visitors from overseos. In total wewelcomed 13.461 vi51tor5 to the museum on the duy5 we were open. a rise ofSO% on the previous yetsr and compaToble lo Iypicol annuol l¥Jures in the yeors before the pondemic. We h05ted over 40 corpcxote events 0up$ os dNer5e 0$ The Nalionol Crime Agency. The Foreign. Commonwealth ond Developmenl Ollice. Google. Cop-Gemini. Olcom and Security Awareness Special Interest Group ISASIGI alor0de supp(xlers such 05 Sophos. Lightning Tools ond155ured. The learning Pfogramme welcomed 8.738 Students fvom 210 schoots to the museum. o doubling ol the previou5 year's figures. Remote leoming sessions were token up by 13 schoots. A new innovation in the leaming progamme was the oddition of"DwJital Future Day5" These are themed events lo which smoller groups ol students are wekomed lo moke the programme more accessible to a wider ronge of schoo&. coleges ond communTly grovp5. Themes included Young Women in Science, technology. engineeling. ond mathemat5 ISTEMI. Internolionol Women in Mathemotics Day, Internolional Women in Eng*neering t)oy. AutorK)mous vehic Doy ond a Gk>bol Encryption Day. Flnonces The lormol occovnts reflect the octNities in this d¥ect'S report. As rep(xFed obove this was the first Ivll year ol operoling lonowng on from the Covid-19 pandemic. Turnover lor the yeor rose from £386.24012021-22110 £473.073. OperotirvJ costs rose from £357.91012021- 20221 to £399.652. Overoll. the museum siw a net income of£73.42112021-2)22 £28.3301 ond o consequent rise in reserve5 from £343.30213)21-221 to £416.723. We ore grolelul to our Musevm D¥eclor and her teom lor the corelul manogemenl ol operating. expenses. fund-raising octiwties ond for developirvJ new ievenue slreams to maintoin o strong finonciol pOtIon despite difficuh linanciol heocknnd5. We also grotelulty ockrkowledge the e55entiol ond generous suppcrt from our Spor0 ond from donors.
THE NATIONAL MUSEUM OF COMPUTING TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2023 Flnances (conltnued) Amongst other things. this hos enOted us to fund new projects and exhibition5. develop ond susloin our Leorning Progromme, ond to orrer events lor disodvontaged ond under-represented groups. stoffing Our Museum Oireclor. Ms Jocqui Gcjrrod. hos brood responsibility lor the operatK>ns ond fund-raising ospects ol Ihe museum, supwled by our Leo¥ning Mc7nager. Storyn Roe. A new appoinlment ol Ms Aneeso Rillol as Senior Curotu ond co1CtiOnS Monoger took ellect in Morch 2022. a signiliconl slep lorword in Ihe yole55ionoli5Qtion ol our museum. During the year Ms Riflatt has been primoriw focused on the coleclions management aspects of her ro 0$ port ol the preporotion towards Ihe museum submitting on opplicolion Icw Arts Council Englond Accreditotion. Her experience of toking her previous employer Ihrovgh this process. her prole55ional curotuial qualfications ond her personol curotoriol neh¥ork have been voluoble odditions to the museum's capalililies. There ore some remaining starring voconcies. of which Ihe Communtotions ond Event Manager post 15 the most pressing. It hos been (fiffcull to find Wilab corKlidotes and we plan revisiting the ro specification and salary. Volvnleers ond Supporters The Volunteers. Associolion ond Supporters. Club eoch suppc¥t the Charity. Volunteers help wth o1105pecls ol exhibit CUfQtion. operotions. including guiding and stewarding. seNing in the Shop. mointenonce ond odminkstrotion. The association h05 approximote 80 octive members. The museum would not be ab to owate wthovt the support of the Volunteers ond the Trustees grolelully ocknowledge their contribution. Importantly. the charity Injstees may appoint o Volunleer Trustee to the Boord of Trustees and we ore pleosed Ihot Mr Steven Kay. one-lime chaxmon ol the Volunteers, Association. continve5 to lullil Ihot role. The Supporters, Club contributes to the museum through both o membership lee ond addilionol 5UPPOrt during lund-roising campoigns. Supporters enjoy discounted occe5s lo mvseum events and ore welcomed to club events ut which we keep them informed obout museum developments ond projects. ExhlbEllon$ The museum lounched o new exhibition. "From Fk)wS to fibre" in partnership with the Communicolions Trust Museum celebroting the onnwersory of the stort of the ioumey to modemile Britoin's telephone network under the engineering genius of Tommy Flowers. the mon behind Bletchley Park'5 Colossus code- breoking mochine. Storting in 1947 Flowers and Successors ol the General P051 Ollice IGPOI and Brit15h Telecom IBTI worked lor holl o century storling 1947 lo moke the e5*ing copper voice network a foster ond more reliuble vehicle lor the digital services we enjoy today. The exhibition lakes visltors on o jouiney through this ollen overtooked story.. from the [t pilots ol prototype digital exchonges lo the Fjanned notionol switch from copper lo fibre alter 2025. Colltellons With a professional Senior CUratc ond Collections Monoger hoving joined in Morch 2022. we have mode significant improvemen15 to our opproach to Co1CtIOnS manogement A cOfpIe review of the collections h05 been toking place in order lo ensure Ihot we ore collecting heolthiw and in line with our Cdlecting Policy. This in tum wll result in on ongoing rationolisotK)n propct ond ollow us to gap lill in areas we ore missin9 ond which ore pertinent lo Brit15h Compvting. There has been 5ignificont work done in inventorying ond doing a lull k)calion oudit items in store ond on drsploy. We ore lollowng the UK SPECTRUld museums collection 51andord procedures in this w(Kk. We hove rotionolised our joumal and magozine collection as m05t of thew ovalh]flty is online ond addilionalw. we hove slreomlined our acqvi5ition proce55 as we move forword.
THE NATIONAL MUSEUM OF COMPUTING TRUSTEES. ANNUAL REPORT YEAR ENDED 31 MARCH 2023 Collections (contlnuèd) Volunteer svpport ond commitmenl lo comeclions monogement continued to be exceptional. incbJding the previously rep<xFed work on mony Teslorolion ond development projects. We continue cotologuing hvo importanl collection5 01 orchive materiol that we have ocquired.. papers ol the lote Mr Tony Sole ond Mrs Morgoiel Sole. both founders ol the museum ond criticol to it5 eor survivol ond devek)pment ond those of the Peter Hillon coltion. Hilton wos a well-known &ilish mothemoticion who worked al Bletchley Potk during Wodd War 2. including on the "Tunny" ciphers a550ciated with the Cobssus machine. ol which the museum moinloins a wixking replica. Events Amongst the mony svcceulul open events held ol the Museum were". B8C I Anniversory- c7 cebratiOn ol Ihe BBC ond computing BBC Microcomputer Fixothon- on open day lor enthusiosls to come lo the museum and repair 88C Microcompulers used in our Le(wning Progomme. Chorfe$ 8obboge Drfference Engine 21X)h AnnNersory celebrolion Opening ol the new From Flower5 to Fibre exhibition Learnlng We continue to operale a very highty regorded and popukw leLYning txwomme, retaining ond exponding our online proviyon developed during the Covi(19 pondemic. ond refreshing our onsitg ollerings whth resumed in the outumn ol 22. Computing has been part ol the Nalionol Educotion Curriculum since 2013, and our leoming progromme provide5 0 unique woy through which teocher5 can enrich their slvclents, experiences ol the wbject ond complemenl the teochers, own knowledge ond understanding. Projects The highest priority project throughout the year for the Trustees ond stoft h05 been the Pfeporotion ol our opplicolion for Arts Council Englond Accreditotion. Submi55ion is lorgeted lor OctoberlNovember 2023. Thi5 programme ol work has helped the museum to tsing its 5tondords ol govemonce. and it5 curolorial and operoting polcies. plons ond procedure% to the level expected ol o nolionol museum. Wilh over 76.(XX) objects in our collection. the cwotoriol cholenge 15 o Hercvlean tosk.. the Trustees ore grolelul to the stoll and volunteers who hove wthed to improve the catalogving of our obj-ects ond the ongoing ralionolization ol the oltsite store lor our reserve collection. The lomer NATS oirtraffic control system gOIryW05 iepknced wlh the new From Fk)wers lo Trbre exhibition and wos the principol gollery project lu the year. leading lo its opening in March 2)23. Our conservation. re5torolK)n ond reconsflvction projec15 depend on the skill ond enthusiasm ol the museum's dedicoled and high skilled group ol technicol Volunteers. Working exhibits ore regulorly run and mointoined by the Volunteefs. A restorotion wthshop spoce was created in the stuoge locilily lo enable larger conservation ond restorolion projects to be undertoken by ow Volunteers. The EDSAC Replica Projecl eontinue5 to be ourlorge5t visbi le ongoing reconstruction project and the public enjoy engaging with the EDSAC teom when they e wesent in the museum. Completion remoins some woy off, but loward Fyogress is being maintoined. other importont ryojects progre55ed Ihrovgh the year nclvded the developmenl ol an exhibit b05ed on the Ferronli Argu5 computer thot wos restored lo working (xder in 2021-22 ond the continuing restoration ol the Notional Physicol Loborot(xy Scropbook system. a British precursor lo the Wodd Wide Web. Work continues on developmenl oran interacte exhibit bosed on the Morconi TAC computer lex Wyllo nucleor power slotionl. Smaller projecls compleled included an intwfoce lor Ihe Elliott 803 computer to enable gomes to be ployed on it le.g.. Jmon soy¥'l and the restoration of 3 Commodore PETS.
THE NATIONAL hAUSEUM OF COMPUTING TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2023 Awards The TNMOC Honorory Felow5hip f 2? wos oworded lo Liz ond Eben Upton. Eben 15 the creotor ol Ihe highty succe55lu1 Raspberry Pi microcomputer used in educolion and in hobbw5t ond industriol opplicotions. Together he und Lo ore ftyJnder5 of the RospbenyPi Foundotion whh supports computing education worfdwide. Dr Mork Prieslley conlinues as our Senior Rese(rch Felbw. Olher museums We conlinue lo devek)p links with other museums ond reloted gOn120110rn$. We hove o good working relolionship wilh Ihe Centre for Computing History in Combridge. UK. We ore represented by o tnjstee. Mrs Bumett und our Senior Cufalor. Ms Rillol. on the committee ol The 8ritith C¢Jmputer Society's Computer Con5ervcytion Society branch. Fulure Plons We continue to build Olff finoncial resee5 ond improve our generation ol income. in OTder to improve the management ol OLX collections and archwe. supp1 our progromme5 and create new exhibitions, undertoke project5 that require inveslmenl in part5 or equipment or specioksl expertise and services. and invest further in employing yole55ionol stall. Space remoins o Significant issue - all gOIrieS are full and sloroge fkewise. We ore rotionolising whot we hold in our reserve collection ond ConYd1ng how we rotote item5 beeen disploy and st(xage lo keep our offellng fresh. We ore improving our signoge. dispkjys ond v[10r narratwe to moke 0 exhitM15 more acceIb lo a non- technicol audience. Succession plonning is becoming an increo&ng priority. We pbn to recnJil addiliond trvstee5 in the coming year. looking lor candidoles who can both brooden and deepen the expertise ol the current Iruslees. ond bring a wider diversify ol bockgrounds lo the museum. We 0150 See on opportunity to make more use of externol advisors lo help the trustees in moking slrotegic decisions obout the museum ond it5 lulure direction. There is o giowng need to captvre the experience ond knovledge ol key volunteers. mony ol whom hove been inVoed since the eartiest doy5 of the Museum_ They shore this knowledge wth our visilors. as guides. in demonstrations of our working object5 ond in mointenonce ol the objects. Alongside this we need to t¥ooden the conservotion ond engineering copobilitie5 01 our Volunteers. Reser¥e> PolScy The policy of the directors s to moinloin o Ve1 of reseThes that will prowde a Stab bose from which to fund its lulure octivity whilst ensuring Ihot excessNe hjnds are not occvmulaled. The Iruslees ore satisfied with the cutTent suplus in unreStrted funds. rep(Nled on poges 16 ond 17 of these occounts. The introduction ol new exhibits and event5 as mentioned otx)ve is expected to encouroge an increase in donolions ond the trustees feel thot the charity 15 now in o sound financKJI State. Investment Polky The tru%tee5 ore responsible for the salekeepirvJ ol oll the assets ol the charity and may invest funds as they See fil. INDEPENDENT EXAMINER Gilbert Holboum ho5 been oppoinled as independent exominer for the ensuing year. Signed by order of the trustees Trustee 11....2023
THE NATIONAL MUSEUM OF COMPUTING INDEPENDENT EXAMINERS. REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2023 I report on the occoun15 of the compony ond Ihe group lor Ihe year ended 31 March 2023. which are set out on pages 8 10 17. Respecttve rÈsponslbllMles ol Trvslees and examlner The Trustees Iwho ore also the directors of the compony for the pvrp05e5 of company lawl are responsible lor the preparation ol the occount5. The Trustees consider thot on oudil is nol required for thi5 year under section 144121 of the Charilies Act 2011 Ilhe 2011 Actl and Ihot an independent examinolion is needed. l am qualified lo undertoke the exomination by being a quolified mernber of the Institute of Chortered Accountonts in Englond and Woles. Having 50tislied myself thot the chorily is not subject to oudit under compony low and is eligible lor independent exominalion. il is my responsibility to.. examine the occounts undef section 145 01 the 2011 Act.. to follow the procedures loid down in the generol Direction5 gNen by the Charity Commission under seclion 145151 Ibl of the 2011 Act". ond to state whether porticul(Y motlers hove come to my ortention. Èosi5 of Independent examlnerfs rèport My exominotion was corTied oul in occordance with the generol Directions given by the Chority Commission. An examination include5 0 review of the accounling records kept by Ihe charity and a comporison ol the occounls presented with those records. It also includes considerotion of any unusual items OT disclosures in the account5. and seeking explanations from you os tnJstee5 concerning any such matteT5. The procedures undertoken do not provide all the evidence that would be requiTed in an oudit ond Consequent no opinion 15 given as lo whether the occounls present a 'true and fair view, and the report Is limited lo those matters set out in the statement below. Independent examlnerf$ Statement In connection wilh my exominolion. no matter ho5 come to my ollention- 111 which gives me reosonoble cou5e lo believe Ihol in any moterial respect the requiremenl5'. to keep occounling records in occ¢Jdance with Section 386 ol the Companies Act 2006". and to preFxJre occounts which accryd wth the accounting record5. comply with the occounting requiremenls ol section 396 01 the Companies Act 2Q)6 ond wilh the methods and principles of Accounting ond Reporting by Chorilies.. Stolement of Recommended Proctice ISORPI opplicoble lo charities preporing their accounts in occ(xdonce wth the Finuncial Reporting Slondard appliccyble to the Uniled Kingdom ond Republic of Irejond IFRS 1021 hove not been mel-. or 121 to which. in my opinion. ottention should be drown in Order to enoble a proper understanding of the occounts to be reoched. 14 ' berl Holbourn FCA. FCCA. DChA l Upper Briclge Streel Wye Kent TN25 SAF .IlI.2023
THE NATIONAL MUSEUM OF COMPUTING CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023 Unrestrfcled Funds Ilestrlcled Fund5 Tolol Funds Total Funds 2023 2022 Note INCOME Donations 68.724 396.802 347 7.2(Kl 75.924 396.802 347 114,994 271,230 16 other Irading octivities Income from Inveslmenls TOTAL INCOME 465.873 7.200 473.073 386,240 RESOURCES EXPENDED Expenditure on raising Ivnds Expenditure on Chariloble oclivilies TOTAL RESOURCES EXPENDED 44.642 44,642 27.329 355.010 355.010 330,581 399.652 399.652 357.910 NEf INCOME FOR THE YEAR RECONCILIATION OF FUNDS Total lun¢Js brought lorward TOTAL FUNDS CARRIED FORWARD 66,221 7.200 73,421 28,330 331.385 11.917 343.302 314.972 397.600 19.117 416.723 343.302 The Consolidoted slotement of Financial Activilie5 includes oll gains and 105ses in the year. All of the above omounls relate to continuing octivilies. The notes on poges I I 10 17 form porl of Ihe5e accounls.
THE NATIONAL MUSEUM OF COMPUTING CONSOLIDATED SUMMARY INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2023 2023 2022 GROUP Gr05s income Non<horitoble trading Activities= nel income 432,827 373,242 40.246 12,998 473.073 386,240 (399,652) (357,910) 73.421 28.330 Total expenditure Totol income comprise5 £7.20012022: £1,2c(Jl of restricted funds and £465.87312022= £385.040101 unrestricted funds. A detailed anolysi5 of income by sources is provided in the consolidated statement of financial activities. Tumover of non-chariloble trading octivities amounled to £1 17.041 12022: £78,054). A detoiled analysis of the trading re5ulls is shown in nole 7. A detailed analysis ol the net expenditure above 15 provided in the statement ol financial activities ond in notes 4.5 and 6. The chariloble company'5 and group's income ond expenses oll relale to continuing operotions. The charitoble compony ond group hod no recognised goin5 or losses other than the surplus for the period. The net income for the period has been calculated on the historical cosl basis.
THE NATIONAL MUSEUM OF COMPUTING CONSOLIDATED AND CHARITY BALANCE SHEET YEAR ENDED 31 MARCH 2023 Group Group Charftable Company 2023 Choritoble Company 2022 2023 2022 Nol• FIXED ASSETS Tangible fixed ossets Investments 10 21.382 25.223 19.728 23.156 21.382 25,223 19.730 23.158 CURRENT ASSErs stocks 12 5270 45.674 363.642 7.624 44.027 293.462 Debtors 13 93.248 315.104 05.013 270.462 Cosh at bank ond in hand 414.586 345.113 408.352 335.475 Creditots.. amounts lolling due within one yeor Net current assets 14 (19.245) (27.034) (11.359) (15,331) 395.341 318.079 396.993 416.723 320,144 343.302 NET ASSETS 416.723 343.302 FUNDS Unrestricted IS 397.606 19.117 416.723 331,385 11.917 343.302 397.604 19.117 331.385 11,917 343.302 Restricted 16 TOTAL FUNDS 416.723 For the financial yeor in question Ihe company was enlilled to exemplion under section 477 of Ihe Componies Acl 2(K)6 relating to 5moll companie5. No members have required the company to oblain on audit of its accounts for the yeor in question in occordonce with section 476 of the Companies Act 2006. The directors ocknowledge their responsibility for complwng with the requiremen15 01 the Act with respect lo occounting records and for the preparolion of the accovnt5. These accounts hove been prepored in accordance with the provision5 applicable lo companies Subject to the small componie5' regime. rhe notes on pages I I to 17 form port ol these accounts. These financiol stotements were opproved by the trustees of the Charity ond auth0ri5ed lor i$5ue onthe. -/.!: .2023 ond are signed on their beholl by= DRAJHERB Choirman Compony Registration Number. 05407952 io
THE NATIONAL MUSELIM OF COMPUTING NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 I. ACCOUNTING POUCIES Bos15 01 preparatlon ol group financial statements The group's financial stotemenls consolidate the financiol stotement5 01 the charitable compony and its subsidiary undertoking mode up to 31 Morch 2023. The finonciol statements hove been prepored under the hi51orical cost convention with items recogni5ed al cost or tror)saclion value unle$5 OtheDlSe sloted in Ihe relevant accoLJnting policies below or the notes to these accounls. The occovnls have been prepared in accordonce with Accounting and Reporting by Charities.. stolemenl of Recommended Proctice applicable to charities preporing their accounts in accordance with the Finonciol Reporting Slondord opplicoble in the United Kingdom and Republic ol Ireland IFRS 1021 Icharities SORP FRS 1021. the Financial Reporting Stondard applicoble in the United Kingdom and Republic of Ireland IFRS 1021 and the Chorilies Acl 2011. The Charity constitutes o public benefit entity os defined by FRS 102. The occounls ore presented in slerting and are rounded to the nearest pound. Income Income comprises donolions. sponsorship. ond various govemment grants logether the net trading income ol the svbsidiory. Fvnd accountlng The cha¥iloble companV5 unrestricled funds Con51 of funds which the choritable company may Use for ils purposes ot its discretion. The charitoble componW5 restricted fvnds are those where the donor requires the sum to be expended lor a specific purpose. Expendlture All expenditure is accounted for on on occruals basi5 and hos been classified under heoding5 that aggregate oll costs related to each cotegory. Expenditure on roi&ng funds is detailed in note 4. ond comprise the costs associated wilh otlraclin9 voluntary income ond ar)y fundraising events. Expenditure on chariloble activities is detailed in notes 5 and 6. ond comprises those costs incurred by the charity in the delivery ol its octivities. It inckndes both costs that can be ollocaled direct to Such activitie5 and those costs of on indirect nolure to support Ihem. Golng Concern The Trustees have assessed whether the Use ol the going concern assumption 15 appropriate in preparing these linanciol stolements. The Trustees hove mode this 055essmenl in iespecl of a period ol one yeor from the dote ol opprovol of these linonciol stotemenls. The Trustees hove concluded thot there are no molerial uncertaintie5 reloted lo events or condition5 that rnoy cast significonl doubt on the ability of the chority lo continue a5 a going concem. 11
THE NATIONAL MUSEUM OF COMPUTING NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 I. ACCOUNTING POLICIES (Continued) Flxed assets ond depreclallon Fixed ossets ore included in the accounts ot their historicol cost onLI are written off over their Useful lives by depreciolion on o straight line basis through the con501idaled stotement ol finonciol octivilies. Equipmenl Fixture & Fittings Short le05ehold improvemenls Over 3 yecws Over 5 ye¢Js Over the term ol the lease Herfloge Assets The Charity owns a consKYeroUe number ol ortelocts and olher materiots relating to computing, mony ol which are unique. These ussels ore mointained and rest(Yed rnain by museum volunteers ond ony expenditure Ihereon is reported in the consolidated slolement ol linanciol actiwties. In the Truslee'g opinion. convelltional volualK)n opwooches kjck sufficient reliatilily. and ony valuation likely lo invOe costs Ihot ore likety lo be onerou5. For this reason the ortelucts ore nol recogni5ed as ossets in the Chorify's babnce sheet. stocks stocks are stated al the lower ol cost ond nel realisable value. atter moking due ollowance lor obsolete and slow moving items. Taxatlon The Nolional MLJseum ol Computing is o charity ond therefore is nol lioble lo income lox or corporotion tox on income derived from it5 chariloble actÈvities. as it lolls within the exemptions ovoiloble lo regi51ered charilies. Forelgn cvrrency trgnslatlon Foreign currency transoctions are tronslated into the functional currency uging the spot exchange rates at the dotes of the transoclions. At each period end. foreign currency monetary item5 are tronslated using the closing rote. Non-monetory items are measured ot historical c051 ond Ironslated using the exchange rote al the date of the transaction and non- monetary items meosured al faw value are meosured using the exchonge rate when loir value was determined. 2. OTHER TRADING ACTivifiES Unrestrfcted Funds Rèsmeted Funds Total Funds 2023 Total Funds 2022 Sponsorships Ticket sales ond group tours Educotion visits Membeiship lee5 Shop sole5 Museum Tox relief Furfough income 89.710 127.208 118.056 8.115 42.890 10.823 89.710 127.208 118.056 50.92S 125.724 45.737 7.106 14,182 18,101 9,45S 8.115 42.890 10.823 396.802 396.802 271.230 12
THE NATIONAI MUSEUM OF COMPUTING NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 3. INCOME FROM INVESTMENTS Unrestrlcted Funds Totul Funds 2023 Total Funds 2022 Bank interest receivable 347 347 347 347 4. EXPENDITURE ON RAISING FUNDS Unrestrlcled Funds Reslrlclèd Funds Tatol 2023 Totol 2022 Fundroising 44.442 44.642 44.642 44.642 27.329 27.329 S. EXPENDITURE ON CHARIFABLE ACTIVITIES BY FUND Unrestrlcted Funds Restrfcted Funds Total 2023 Total 2022 Establishment and operolion of the museum Svpport Costs Governonce costs (note 61 327.007 327.007 292.142 17.837 10.166 17.837 10.166 355.010 28,530 9.909 3SS.010 330.581 6. GOVERNANCE COSTS Unr•strlcled Funds Reslrfcted Funds Total 2023 Tolal 2022 Independent examination fees Legal and professionol fees 4.250 4.250 5.916 10.166 4.250 5,659 9.909 5,916 10.166 13
THE NATIONAL MUSEUM OF COMPUTING NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 7. NET INCOME FROM ACTIVITIES OF THE TRADING SUBSIDIARY 2023 2022 PROFIT AND LOSS ACCOUNT TURNOVER 117.041 {47.7S1) 69,290 (28.721) (39.840) 729 78.054 (37.814) 40.240 {26.663) (12,998) 579 Cost of soles GROSS PROFIT Adminislralion expenses Payments under gift aid Non-charitable Iroding profitl Ilossl for the year Loon interest (729) {579) TRADING RESULT ON ORDINARY ACTIVITIES BEFORE YAXATION Toxotion on profillllossl on ordinory activilies TRADING RESULT FOR THE FINANCIAL YEAR 8. STAFF COSTS Chtsrltoble Cc*mpany 2023 Choritable Compony 2022 Group 2023 Group 2022 Woges & salaries Sociol security costs 148.275 8.335 156.610 119.001 5.$82 124.$83 131.800 7.409 107.101 5.024 139.209 112,12S The overoge number ol persons, including trustees. employed by the choritoble company and group dvring the period wc7S= Group Group Charftable Company 2023 Number Charitable Company 2022 Number 2023 Number 2022 Number Number of truslee Directors Number of employees 12 12 21 24 21 24 9. TRUSTEES No employee received remunerotion ol more thon £60.(KK) during the year or the previous year. None of the trustee5 lor ony person connected wlh them) received ony remvneralion during the yeor or the previous yeor. None of the ttustee5 were reimbursed for ony expenses dLJring the yeor or the previous yeor. Expenses poid for by the trustees on beholf of the museum are not reclaimed. 14
THE NATIONAL MUSEUM OF COMPUTING NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 10. TANGIBLE FIXED ASSEIS Short Flxlures & leasehold Httlng5 Improvements GROUP qulpment Total Cost Al l April 2022 As ot 31 March 2023 29.836 360.155 41.213 431.204 431,204 29.836 360.155 41.213 Accumulaled Depreclallon At l April 2022 Chorge for the year As ot 31 March 2023 27.145 S38 359.146 19.690 2,299 40S.981 3.841 27.683 360.150 21.989 +109.822 Net book value As ot 31 March 2023 2.153 19.224 21,382 A5 at 31 March 2022 2.691 1,009 21.523 25,223 Short Flxtvres & Lèasehold FSMlngs Improvements CHARITABLE COMPANY Cost Al l April 2022 As at 31 Morch 2023 Equlpment Total 23.135 23.135 360.155 41213 41.213 424.503 424,503 360.ISS Accumulaled Depreclallon At l April 2022 Chorge for the year As 0131 Morch 2023 Nel book value As ot 31 March 2023 22.511 125 359.146 1.004 360.150 19.690 2.299 401,347 3.428 22.036 21.989 404,775 499 19.224 19,728 As at 31 Morch 2022 624 1.009 21.523 23.IS4 I I. INVESTMENTS Group Group Chatltoble Company 2023 Chc7ritable company 2022 2023 2022 Cost ot l April 2022 and ot 31 March 2023 15
THE NATIONAL MUSEUM OF COMPUTING NOTES TO THE CONSOLIDATED HNANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 12. STOCKS Group Group Charllable compony 2Q23 Charitable compony 2022 2023 2022 Finished good5 5270 7,624 5.270 7.624 13. DEBTORS Grovp Group Churftable company 2023 Charitable compony 2022 2023 2022 Due wlthln one year Trode debtors 45.674 44.027 47,206 38.175 Amounts due from group undertokings 46.042 26.838 45.674 44.027 93.248 65.013 Included in the debloTS lye om(yJnts due from the subsidiary. TNMOC Troding Limited. The Charity continue5 to support Ihe 5ub5idiary and the b0k1re recoveroble. 14. CREDITORS: amounts lalllng dve wllhln one year Group oup Charllab5e company 2023 Charitable compony 2022 20Y2 Trade creditors Accru015 Toxolion ond social security 6.010 5.250 14.142 5.250 2.460 6.296 7.985 7.642 4.499 5,035 19.245 27.034 11,359 15.331 15. GROUP UNRESTRICTED FUNDS Balance at IApr22 Income Expendlture Balon¢e at 31 Mar 23 General Fund 331.385 465,873 465,873 (399.652) (399.652) 397.606 397.606 331.385 16
THE NATIONAL MUSEUM OF COMPUTING NOTES TO THE CONSOLIDATED HNANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 16. GROUP AND CHARITY RESTRICTED FUNDS Balonce al IApr22 Balance ot 31 Mar 23 Income Expendltuie WITCH Project History of softwore Women in compuling 1.003 3.600 14.514 19.117 1.200 8.514 11.917 7.200 The following exploins the notvre of activitie5 Within eoch hJnd. WITCH ProJect Tronsporlation. restofolion, and development of a display areo f the WITCH computer. Hlslory of software Funding for Ihe History of sOf0[e gollery. Women Sn Computlng Funding for the development of the Women in Compuling Gollery. 17. ANALYSIS OF NET ASSEtS BETWEEN FUNDS Tanglble fixed assets Net curr•nt assets Total Restrlcted Income Funds Reslricled funds 19.117 1?,117 19.117 19.117 Unrestrlcted Income Funds General Funds 21.382 21.382 376.224 376.224 395.341 397,606 397.606 416.723 Total Funds 21.382 18. COMPANY LIMITED BY GUARANTEE The charity is a company limited by guorontee. The members of the compony ore the trustee5 named on poge one. In the event of Ihe chority being wound up. the liobility in respect of the guarantee is limited tro £1 per member of the chority. At 31 Morch 2023 the total ol such guarantees amounted to £6. 17